THE CHALLENGE
Colohouse, a private-equity backed datacenter and managed service company, was in the midst of consolidating nearly half a dozen banking relationships into one single relationship with their banking partner when they inquired for help with financing equipment for a data center buildout.
“We were talking about using [banking partner] as our only bank because we have about a half a dozen [separate accounts] right now. We are trying to consolidate all of our banking, but we needed help financing a few pieces of new equipment. They said they really don't do this kind of financing, but that I could reach out to Brian Fleming at FORT Capital Resources.”
- Peter Giammarinaro, Senior Vice President, Finance Controller at Colohouse
Colohouse’ banking partner doesn’t provide equipment financing of this nature. As a trusted advisor, he knew he had to make a recommendation for the client, so he turned to FORT Capital.
FORT specializes in equipment financing and has extensive experience in the data center industry, so he made the connection.
“Peter from Colohouse came to me and said, ‘Hey, we’re looking to start this build out, can you help with the financing?’ The problem was, they have a complex corporate structure. With the size of the deal they were talking about, I knew our services wouldn’t be a perfect fit, so I needed to find a partner to help. That’s when we turned to FORT.”
- Sr. Business Banker at Banking Partner
FORT CAPITAL RESOURCES’ RESPONSE
Our process to assist ColoHouse went as follows:
FORT and Colohouse have since collaborated on over $1M in transactions to support the growth of the company while bolstering the relationship between Colohouse and their bank partner.
“I couldn't be any happier,” said Colohouse’ Peter Giammarinaro.
Mr. Giammarinaro had recently worked with captive financing programs at major manufacturers as well as interacting with other independent finance firms.
FORT, established in 2007 and specialists in equipment finance, has completed thousands of unique customer transactions totaling more than $500MM in volume. The needs of Colohouse fit perfectly with the proven capabilities of FORT.
As a result of the bank’s referral to FORT, Colohouse has a trusted equipment finance partner to work with in their anticipated future transactions, as well as a bolstered relationship with their banking partner.
“[FORT] was right in the client’s wheelhouse: the pricing made sense, speed was perfect, the client is happy, and we look great for making the referral, it worked perfectly.”
- Sr. Business Banker at Banking Partner
BENEFITS OF COMMERCIAL BANKERS WORKING WITH FORT
The fast turnaround and affordable options provided by FORT to banking clients means banks can make referrals for any client seeking equipment finance resources with confidence and trust that their client is in good hands, and their relationship is protected.
“It really made sense for where we're at and what we're trying to do and I was extremely happy [with the outcome]” said Mr. Giammarinaro.
Introducing clients to FORT has helped commercial bankers protect and retain the client relationship, including their deposits and treasury, by always providing top-tier service. Banks are able to satisfy client requirements with a credible offering even when that offering extends beyond their scope of service.